Indian Cloth Hooded Scarf

Looking more like a sweater than a scarf, Indian Cloth's Hooded Scarf ($620) will certainly keep you warm. It features a heavy double knit of baby alpaca, a hood, and the length provides an extra layer of warmth underneath a long sweater coat or winter jacket.
Given its length, button front and double front pockets, you could wear it as a sweater. Or if you prefer, the Hooded Scarf could be left unbuttoned and wrapped around your neck.